Oil prices rose on Thursday underpinned by a spike in fuel demand as a major storm barrelled into Florida and concerns about potential supply disruptions in the Middle East amid heightened tensions between Israel and major oil producer Iran.

Oil rose further on Wednesday amid speculation Iranian oil facilities could be the target of an Israeli retaliation against Tehran.

An escalation of conflicts in the Middle East in recent weeks has triggered a sharp increase in oil prices, raising uncertainty about where costs will head in the final weeks before Election Day. Oil prices surged about 13% over an 11-day stretch ending on Monday.